Fitch rates Alleghany debt BBB

Fitch Ratings said it assigned an issuer default rating of A- to Alleghany Corp., along with a senior debt rating of BBB.

Fitch also said it assigned an issuer default rating of A- to Transatlantic Holdings, Inc., along with a senior debt rating of BBB+.

The agency also assigned an A+ insurer financial strength rating to Transatlantic's property/casualty reinsurance subsidiaries and an A insurer financial strength rating to RSUI Group, Inc.'s property/casualty insurance subsidiaries.

The outlook is stable.

The ratings reflect the company's conservative capitalization, reasonable financial leverage, sizable cash position and favorable financial flexibility, Fitch said.

The ratings also reflect operating challenges in the highly competitive, property/casualty reinsurance market, integration risk with the recent acquisition of Transatlantic and potential exposure to adverse reserve development on sizable casualty reserves, the agency said.

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